Fiscal Balance in Argentina

Argentina Fiscal Balance | Economic News & Forecasts

Argentina - Fiscal Balance

President Mauricio Macri’s government and the IMF reached a new agreement on 26 September which provides further financial support and will most likely shield the country from any credit distress this year and next. The revised standby agreement (SBA), however, comes with conditions, most importantly including: a primary budgetary balance by 2019—one year earlier than stipulated in June’s SBA—and a strict monetary base rule to curb inflation. The latest fiscal data shows that, although the primary deficit narrowed by almost a third in January–August, interest payments surged. The SBA came after national accounts data showed that GDP shrunk dramatically in Q2, reflecting contractions in both domestic and external demand, compounded by the effects of a severe drought. That said, data on economic activity in July, without changing the broad picture, suggests some improvement, given that the pace of year-on-year contraction softened considerably in the month. However, other indicators point to prolonged economic weakness as demonstrated by consumer confidence, which continued to plunge in September, and the trade deficit, which widened further in August.

Argentina - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-1.9  -2.4  -3.9  -5.9  -6.0  

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Argentina Facts

ValueChangeDate
Bond Yield6.690.15 %Dec 17
Exchange Rate35.900.45 %Oct 16
Stock Market29,4312.26 %Oct 16

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